Cotton price action has contracts down 16 to 66 points so far at midday. The outside markets strength is being ignored, with crude oil up $2.95/barrel and the dollar index down 304.
China has issued a 200,000 MT sliding tariff rate quota for cotton imports.
ICE cotton stocks were unchanged July 29, leaving 28,745 bales of cert stocks. The Cotlook A Index was up 125 points on July 30 at 79.60 cents/lb. The USDA Average World Price (AWP) was cut by 140 points to 55.02 cents/lb, and is in effect through this Thursday.
Dec 24 Cotton is at 68.89, down 66 points,
Mar 25 Cotton is at 70.58, down 60 points,
May 25 Cotton is at 71.78, down 62 points
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